Zinc Social Inventories Down 3,700 mt on Week

SHANGHAI, Oct 29 (SMM)—Total zinc inventories across seven Chinese markets stood at 143,600 mt as of October 29, down 2,200 mt from October 25 and 3,700 mt from October 22.

The inventory in Shanghai declined as the arrivals of imported zinc increased and downstream producers bought goods on dips. Guangdong saw a sharp increase in the stocks as power rationing in Guangxi loosened and the arrivals of goods on the market rose. The stocks in Tianjin fell sharply amid transportation restrictions and the stranding of goods in the station. Inventories in Shanghai, Guangdong and Tianjin fell 1,900 mt, and inventories across seven Chinese markets decreased 3,700 mt.